The Global Cryogenic Valve Market, valued at USD 3068.85 million in the year 2019 has been witnessing unprecedented growth in the last few years on the back of Mergers, Acquisitions and collaborations to link the existing gaps in their product offerings, the end market requirements and the geographical constraints, thereby creating large customer and partner base in the market. Also, the positive outlook of Cryogenic Valve industry can be credited to variables, such as, increasing global LNG trade, that has led to the demand for storage and transportation of cryogenic gases and surge in the demand of industrial gases.
Among the Type segment in the Cryogenic Valve market (Ball, Globe, Gate, Check, Others), Ball Type segment has been gaining popularity among various other segments and is expected to keep major market share in the forecast period owing to the fact that these valves possess better flow characteristics, are simple and quick to operate, and favoured for automation.

Based on Gas segment, LNG segment dominates the market share in year 2019 and is also expected to show dominance during the forecast period because of the rising demand of LNG from the emerging economies coupled with the growing investments from government towards the clean and secure environmental.
Based on End-User segment, Energy & Power segment holds the major share in the cryogenic valve market followed by Chemicals and Food & Beverage segment. Cryogenic valves are extensively utilized in the energy and power industry. These valves are installed for regasification, transportation, and liquefaction. The increase in the trade of LNG is a key driver of this segment.

The Asia Pacific region has the largest market share in year 2019 while it is estimated that Asia Pacific will remain dominant during the forecast period with China being the leading country in the region followed by Japan and South Korea. Factors fuelling the growth of the region are growing consumer awareness towards the use of cleaner energy fuel. Also, the fast emerging economies results in higher purchasing power of consumers.

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